Ah, impulse purchases! Source of instant satisfaction and, simultaneously, the cause of thousands of discussions at home.
No matter how careful you are with your money, it’s often impossible to resist an impulse buy. However, the vast majority of times, we are tempted not to be the super-incredible-bargains or must-haves-I-need-right-rights that we think they are. Here are the best tips to avoid unnecessary purchases.
1. Ignore the tag discount. Think about the total price.
Don’t let sales and discounts cloud your view. Remember, a bargain is only a bargain if you need it. Try to think practically about the actual price of things before you buy them. How much would you have to work to pay for that new TV? Could I spend that money on something more substantial?
If we are talking about clothes, another way to see the situation is to think about ow many times you think you will wear the garment and how much that time would cost you. Of course, those $250 designer sunglasses will make you the coolest guy on the block. But do the math, how long does the summer last, and how much would it cost you each time you use them?
2. Check it with the pillow. And then check it with the pad again.
When you see something you need, give yourself time to think about it. Allow a week (or even more) to pass before making a decision. If, after a month, you still love it badly, then the purchase makes sense. But often, it will happen to you that if you let some time go by, the offer may not seem so good, and you end up discarding the idea.
3. Don’t go shopping when you’re sad.
A classic: it’s easy to treat yourself to improve your mood. But trust us, you will not feel better, which is often the beginning of a downward spiral. When you spend money to combat stress, what you are doing is adding more pressure when you are aware of the extra expense you have had.
You cannot attack negative feelings with negative actions. Instead”d, try to do something positive and constructive. Go for a walk, play sports or hang out with your friends. Or at least treat yourself cheaper!
4. Buy online. Yes, really.
It sounds unintuitive to avoid impulse purchases,” but buying online can help you spend less. As you take advantage of the fact that you are already connected (who nowadays is not ALWAYS bound?), you can investigate and document the object in question in more depth. How many times have Amazon reviews made you change your mind at the last minute? In physical stores, however, there is no one to tell you in the middle of the process if what you are going to buy is worth it or not.
And there is another positive aspect of online shopping: the final amount you will spend is in your shopping basket, in plain view. You will not find any surprises when you go through the checkout.
5. Go shopping with the right company.
If your friends arChandon’siends, it is because you have many things in common. If one of those things is buying stuff neither of you can afford, don’t go shopping together. Now, we know that it sounds like advice from parents worried about your bad company, but when you are considering buying those expensive sneakers, you need a friend who says NO, not one who is already looking for the same model in his size. Someone has to put a note of sanity. Barcelona, and
6. Use more cash.
“Metal? In the middle of the digital and cashless era? Please, these people are giving me advice from the last century again”. You may think that, but it has its reason for being. When you see your money disappear, it’s harder to justify unnecessary purchases. Having to pay in cash can make you think twice.
7. Have a separate budget for your whims
Trying to get your finances under control isn’t as much fun if you don’t indulge once in a while. Figure out how much you can spend each month on those little gifts for yourself and set it aside in a secondary budget.
For example, set aside some money to order food delivery once a week or dinner at a good restaurant at the end of the month. You can give yourself clothes for a new look the day you get paid.
8. Save all that money… to show you can and set an example for yourself!
If it was not clear to you, it is an excellent idea to set aside the money you would have spent on impulse purchases and whims. Please don’t touch it; let it rest in some bank account. After two or three months, look at what you have saved… and let your imagination run wild!
How much would you have after one year? Would it come to you for a good vacation? Buy a new car? If you had started much earlier, could you have the entry of a house?
Now take that money and put it to use. Spend it on something positive that improves your day-to-day. Add it to your savings and turn the page. Or spend just part of it on something silly, like one last flirtation with your old irresponsible self!
If you put these tips into practice, you will be on the right track for those who use common sense with personal finances. Spread the word. Your friends may also need a little help 😉
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